Common Contracts

Commonwealth of KY Dept. of Parks

August 24th, 2016

• Filed
  August 24th, 2016

Guaranteed Energy Savings Performance Contract definition by statute: an agreement for the provision of energy services or equipment, including energy efficiency measures, energy conservation measures and alternate energy technologies for state government buildings, in which a person agrees to design, construct, install, maintain, operate or manage energy systems or equipment to improve energy efficiency of, or produce energy in connection with, a state government building. Payment for a guaranteed energy savings performance contact shall be made form measured and verified savings generated from implementation of the energy efficiency measures financed by the contract. The term of a guaranteed energy savings performance contract shall not exceed the life of the energy savings generated from implementation of the energy efficiency measures financed by the contract. If the measured and verified savings are not sufficient to pay the financial obligations under the contract, the contactor